The Dangers of Certificates of Insurance

The Dangers of Certificates of Insurance

A standard practice is to request Certificates of Insurance from contractors. While this is a good start to risk management, did you know that the Certificate is only valid for the day it was issued? Did you know that the Certificate has no legal bearing on the insurance coverage?

Read More

Why You Should Never Insure a Personal Auto on Your Business Auto Policy

Why You Should Never Insure a Personal Auto on Your Business Auto Policy

The Business Auto policy (BAP) is the standard policy used to insure vehicles that are used in a business/for business purposes. The BAP can insure the vehicles to cover almost any liability that could arise, along with Comprehensive, Collision, Medical Payments, and other coverages. The BAP is a very robust program, but all of the coverage could be compromised if personal automobiles are insured by the BAP.

Read More

Navigating Commercial Leases

Navigating Commercial Leases

Most people have experience with residential leases, and commercial leases have many things in common with their residential counterparts. However, commercial leases contain more requirements than what you'll find in a residential lease, and they can be overwhelming if you've never seen one before. This article will discuss the main commercial lease forms and their requirements, along with answers to some miscellaneous questions.

Read More

What's the Difference Between Independent Contractors and Employees?

What's the Difference Between Independent Contractors and Employees?

Employees are expensive. You have to have Workers' Compensation, Unemployment, and other lines of insurance for them. You have to pay taxes on them, and they require you to follow all types of federal and state labor, wage, and discrimination laws. What a mess! Wouldn't it just be easier to reclassify all of your employees as independent contractors instead? Find out why you can't do that in this article!

Read More

What are Additional Insureds?

What are Additional Insureds?

You've cut all of the 'red-tape', got you vendors lined up, set up your operations and processes, and now you've found the perfect location to set up your store. Everything seems to be falling into place, until you see that the rental agreement requires the landlord to be named as an Additional Insured. What does that mean? What does that cost? What can happen with another entity being additionally insured?

Read More

Type of Construction & How It Affects Your Premium

Type of Construction & How It Affects Your Premium

Calculating premium for Real Property has many different factors. One of the largest factors involved is the type of construction of the building. Use this article to find out how to determine what type of construction your building is, and what the construction type might mean for your rates.

Read More

Introduction to the Directors & Officers Policy

Introduction to the Directors & Officers Policy

The Directors & Officers (D&O) policy has many similarities with other forms of liability insurance. However, the D&O policy is specifically used to protect the upper management (CEOs, CFOs, etc.) and board members from lawsuits claiming that they've made poor decisions that have negatively affected the company/organization.

Read More

Causes of Loss—Modifying Your Protection

Causes of Loss—Modifying Your Protection

Every insurance policy has perils that are covered and excluded. In Property insurance policies (E.g. your home, commercial building, etc.), the policy follows the ‘Cause of Loss Forms’. The Forms are Basic, Broad, and Special. Each Form insures your property against different perils, with Special being the most thorough coverage.

Read More

Property & Casualty Insurance Lingo

The Property and Casualty (P&C) insurance industry is a vast segment of the insurance industry, and there are numerous terms used in it. This article is a list that explains common terminology used in personal and commercial lines of Property and Casualty insurance.

Read More

Excess Liability Policies

Excess Liability Policies

The Excess Liability policy has many similarities to the Umbrella policy. However, the differences are in breadth of coverage, pricing, and policy provisions. Excess Liability policies can be written for both personal and commercial risks, but this article focuses more on the commercial application.

Read More

Introduction to Employment Practices Liability Insurance (EPLI)

Introduction to Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance, often shortened to EPLI ("ep-lee"), covers lawsuits made against a business for employment-related wrongful acts. EPLI policy language is highly variable, but all function in the same manner. EPLI policies can be written for almost any business, as long as it has at least one employee.

Read More

How to Find Insurance for Your New Business

How to Find Insurance for Your New Business

Entrepreneurship is at the heart of the American Dream, and has led to many worldwide companies—McDonald’s, Coca-Cola, and Apple, just to name a few! The freedom and empowerment of owning your own business can be very fulfilling, but it takes a lot of work to get your new venture up and running. You’ll be facing plenty of ‘red tape’, along with making a business plan, finding a location, finding funding, and much more. While you're trying to figure those things out, you'll also need to line up your insurance before you can open your doors for business. This article will give you an overview of insurance for start-ups and new ventures.

Read More